Approaches to increase the profitability of Flemish aquaculture via process optimization and other methods

General introduction

Aquaculture has the potential to supply sustainable, local, and healthy products; however, initiatives in Flanders face challenges to take off. The primary obstacle seems to be the selection of options that are economically preferable. Initiators usually have significant technical and biological knowledge and passion, but often lack the necessary economic expertise. The aquaculture sector in Flanders is also experiencing significant difficulties in terms of financing. There is an urgent need to identify the economic potential of aquaculture to reduce entrepreneurial risks.

Research approach

A central element is an interdisciplinary approach that integrates biological, process engineering, production design, and economic expertise within a business  model framework. The species Lota lota is considered as a case study. Growth functions are drawn up for this species under various conditions (different water temperature, feeding strategy), an efficient nursery design is sought, market research is carried out and an analysis is made of how added value can be created. The acquired knowledge has been incorporated into a calculation tool, known as the 'Aquaplanner', which is designed to enable individual aquaculture enterprises to make informed decisions regarding optimal business profitability.

 

Relevance/Valorisation

This project provides tools to increase the profitability of aquaculture in Flanders through process optimization, appropriate investments and appropriate business models. The 'AquaPlanner' calculation tool that is being built allows individual aquaculture companies to make process, design and marketing choices that result in higher business profitability. The tool also allows you to analyze to what extent business choices remain appropriate from an economic viewpoint when market conditions change or when the company is able to improve processes.